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October 16, 2007
UK online gambling group Leisure & Gaming (L&G) has announced its termination of takeover discussions with games software developer CGTV Games Ltd. L&G had been approached by CGTV despite rumours circulating in the market that CGTV may be in trouble. Ex-staff at the Canadian-based CGTV have recently said the company has had to let go of as many as 75% of its CAD staff in China and Canada. L&G in a statement to the market said it was now being approached by other parties though it was now not in any takeover discussions. The termination of the CGTV takeover bid was with immediate effect according to the statement. L&G is a holding company mainly involved in online betting and gaming and incorporated in England and Wales. It is listed on London’s Alternative Investment Market (AIM) and operates mainly in the emerging online markets of Italy and Central and Eastern Europe. L&G does not currently offer free online bingo or access to online bingo halls. Its website reveals no plans by the company to develop a range of online bingo games. The announcement of the deal’s collapse could reflect a spill-over into the online gambling sector from the deteriorating mainstream mergers and acquisition markets. Written by John Witherspoon – Come and play online bingo at its best! The best bingo games online are one click away.
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